This is correct. What Scheer/Poilievre are spouting is not, as they imagine, monetarism. It’s comic book monetarism, a caricature of monetarism — monetarism for undergraduates.
The quantitative theory of money does not hold that inflation is a straight-line function of the money supply, but rather of the intersection of the supply *and demand* for money. PQ=MV only collapses to P~M if Q (real output) and V (money velocity, the inverse of the demand for money) are held constant. Constant V may be a good working assumption, at least in the short run, but it is not automatically or inevitably true, especially in the middle of a massive and unprecedented crisis like covid, when the demand for money typically spikes (people hoard cash).
Trump's tariffs could ruin Canada's economy. But if the new president actually has aspirations of absorbing Canada, he’s in for a rude awakening, writes Stephen Marche. https://t.co/8xSt2pDmEh
Dear America,
A trade deficit doesn’t justify the tariffs any more than the minor challenges at our shared border.
The important relationship between our two countries is unique. We should be building on its success, not undermining it.
This guy's awesome. Friendly. Positive. Roots for people. Open hearted and available to questions. All while fighting tough global challenges: COVID, convoy, war, inflation.
Other guy is negative. Closed to media. Rips people down. Talks down Canada. With none of the pressures.
Crime and disorder are a main focus of the B.C. election, but Statistics Canada data shows the per capita crime rate, based on police reports, is down in B.C. by about three per cent since 2018.
https://t.co/3Exn0LSdPJ